The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK F iscal A gent of the United States C ircular No. 7892 June 4, 1976 RESULTS OF AUCTION OF 4-YEAR 1-MONTH TREASURY (Notes of Series D-1980) To A // B anking iMsZrZM/ZoMs, NOTES O ffe r s Concerned, in zAe Second Fe^era/ Fcscwc Dr^ZncZ.* The following statement was issued yesterday by the Treasury Department: The Treasury has accepted $2,000 million of $5,062 million of tenders received from the public for the t-year 1-month notes, Series D-1980, auctioned today. The range of accepted competitive bids was as follows: Lowest yield...... Highest yield..... Average yield..... 7 .6 8 %^ 7.73% 7*71% 1 E x cep tin g ten ten d ers to ta lin g $ 1 ,1 6 6 ,0 0 0 . The interest rate on the notes will be 7-5/8%. At the 7-5/8% rate, the above yields result in the following prices: Low-yield price...... 99.796 High-yield price..... 99.625 Average-yield price... 99.693 The $2,000 million of accepted tenders includes 2% of the amount of notes bid for at the highest yield and $388 million of noncompetitive tenders accepted at the average yield. In addition, $l60 million of tenders were accepted at the average-yield price from Federal Reserve Banks as agents for foreign and international monetary authorities. P A U L A . VOLCKER,
@FedFRASER